Financial Aid (Explanation of Types of Financial Aid)

Grants and Scholarships   Loans & Employment

Ivy Tech participates in various types of federal and state financial aid programs which provide assistance to many students. Ivy Tech also provides financial assistance to students from its own resources. Students are encouraged to carefully explore all financial aid options at their campus.

Students must complete the Free Application for Federal Student Aid (FAFSA) to be considered for any form of financial aid. Financial aid is available for both full- and part-time students regardless of age, race or sex. To qualify for financial aid, all applicable requirements must be met. For federal and state financial aid programs students must:

• Be a regular student enrolled or accepted for enrollment in an eligible program.
• Not be enrolled in secondary school.
• Be a U.S. Citizen.
• Maintain satisfactory academic progress in a course of study.
• Not owe a refund to a federal grant or loan program.

Students who have completed the FAFSA and submitted all required documentation will receive an award letter detailing the financial aid programs offered. Any additional documentation required for an award or instructions for receiving payment will be mailed to the student. Procedures for obtaining federal loans vary by campus. Your campus financial aid office will instruct you on how to apply for federal Stafford loans. Detailed information on all financial aid programs is available at your campus financial aid office.

The following forms of financial aid are available to Ivy Tech Students:

Grants and Scholarships

Hoosier Scholarship Program

The State Student Assistance Commission of Indiana may award from one to three scholarships per high school, based on the size of the graduating class. Candidates are nominated by their high schools. The Hoosier Scholarship is a one-time, nonrenewable merit award in the amount of $500 for one academic year.

Higher Education Award Program (HEA)

Residents of Indiana may apply for Higher Education Awards (formerly called State Grants ). Applicants must file the FAFSA by March 1 preceding their enrollment for the following fall semester. Awards are based on demonstrated financial need. Recipients of HEA awards must be enrolled full-time (12 hours or more per semester) to be eligible to receive the grant.

Ivy Tech and Foundation Scholarships

Ivy Tech awards scholarships provided by Ivy Tech Foundation and local civic and service organizations. Students should contact the Financial Aid Office for details concerning availability of these scholarships.

21st Century Scholars Program

Twenty-first Century Scholars may use their tuition scholarships at Ivy Tech. Students must complete the award affirmation and other required forms provided by the 21st Century Scholars Program office to receive the award by the specified deadline. Questions regarding this program should be directed to the 21st Century Scholars Program or the campus financial aid office. All 21st Century Scholars are eligible for other special types of assistance as well. Please contact the Office of Student Affairs for additional information regarding the 21st Century Scholars Program.

Federal Pell Grants

The largest financial aid program at Ivy Tech is the Federal Pell Grant program. This program provides grant funds for tuition and books for many Ivy Tech Students. Since the grant is based on the student's need, enrollment status, cost of education at Ivy Tech and current level of federal funding, the grant amount varies from semester to semester and student to student.

Indiana Part-time Grant

Residents of Indiana may be eligible for the Indiana Part-time Grant. Applicants must file the FAFSA and be enrolled in at least 6 credit hours, but less than 12 credit hours and have completed at least 12 semester credits toward a two-year degree completion. Awards are based on demonstrated financial need.

Federal Supplemental Educational Opportunity Grant (FSEOG)

FSEOG is a federally funded student aid program which enables colleges to make grants to financially needy students to assist in the payment of educational costs. Awards vary each year.

Ivy Tech Grant Programs

Ivy Tech provides an extensive grant program. Each campus has a fee remission grant fund for students with special needs arising from unusual circumstances. Fee remissions are available under three separate programs:

• Ivy Tech Grant -- Awarded on basis of need.
• Ivy Tech Scholarship -- Awarded on basis of merit.
• Part-time Scholars Opportunity Grant -- Awarded on basis of need to part-time students.

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Employment and Loans

Federal Work Study Program

The Federal Work Study Program provides part-time employment to students who need financial assistance. Applicants must file the FAFSA and must be enrolled for at least 6 credit hours. Job assignments may be within the College or in public nonprofit agencies in the community. The financial aid office directs job placements after taking into consideration the amount of student financial need, class schedule, and family or personal obligations. The starting hourly rate will usually be at least the federal minimum wage. Employment may consist of but is not limited to, secretarial and clerical office work, maintenance or custodial work, duties in the Learning Resource Center, or work as lab assistants. Where possible, students are offered work study assignments in areas related to their career objectives.

State Work Study Program

Ivy Tech participates with the State Student Assistance Commission of Indiana in a state-funded Summer Work Study Program for financial-aid-eligible students who are residents of Indiana and plan to be enrolled full-time for the Fall Semester. The purpose of this program is to help students who have received state-funded grants and scholarships to meet their remaining need.

Federal Stafford Loans

Low interest, federal Stafford Loans are available to eligible students who attend classes at least half-time (6 credit hours). Funding for these loans is provided by lending institutions but the application process is handled completely by the Financial Aid Office. The interest rate on Stafford loans varies from year to year and students are notified of the applicable rate at the time of the application. Need-based, subsidized Stafford loans are interest-free during in-school and grace periods. Non-need based, unsubsidized Stafford loans require the student to pay the interest while in school or request a deferment of interest until after graduation.

Repayment of Stafford loans begins six months after graduation, or when the student's class load falls below six credit hours per semester. Each student borrower is required to complete entrance and exit counseling. Counseling is now conducted online with the help of Sallie Mae. Students are notified of the proper website, address, and instructions. Loan applications will not be processed if counseling has not been completed.

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Federal Parent Loan For Undergraduate Students (PLUS)

The PLUS program assists parents in financing the education of their dependent children when all other types of financial assistance have been denied or exhausted. Repayment begins within 30 to 60 days after the loan is made. The federal government does not subsidize interest on these loans.

Selected Reserve Educational Assistance Program

Members of the US Army Reserve, Naval Reserve, Air Force Reserve, Marine Corps Reserve, Army National Guard or Air National Guard may be eligible for benefits under chapter 106 of the VA Regulations. Eligible students should contact the Office of Financial Aid for additional information and applications.

Child of Disabled Veteran (CDV) Benefits

Children of deceased or disabled veterans may be eligible for veteran's benefits.

Indiana residents who are children of deceased or disabled veterans, or of veterans awarded the Purple Heart, may be eligible for a fee waiver at Ivy Tech if the parent's death, disability or Purple Heart award occurred as a result of military service during wartime. Inquiry concerning this benefit may be made at the Financial Aid Office.

Police and Fire Fighters Orphans and Spouses Benefits

Children and spouses of deceased, regularly paid, law enforcement officers and fire fighters are eligible for a fee waiver if the death occurred in the line of duty. Children and spouses of volunteer firefighters and city or county reserve police officers who died in the line of duty also are eligible for a fee waiver. The fee waiver is granted only to full-time students under the age of 23. Certification from the appropriate agency must be presented to the College in order to obtain the fee waiver.

Vocational Rehabilitation

Students with disabilities that may be considered barriers to employment may qualify for benefits through the Family Social Services Administration. The local office of the Division of Disability, Aging and Rehabilitative Services establishes the conditions of eligibility and awards assistance based on individual need. The division expects students to apply for the Pell Grant and other forms of financial aid through the school. However, if these resources are not sufficient to meet their needs, the division may provide additional funding. Further information is available from the local office of the Division of Disability, Aging and Rehabilitative Services.

Department for Workforce Development

Students from economically disadvantaged backgrounds may be able to obtain assistance in acquiring vocational training or in upgrading occupational skills. For further information, contact the local employment office.

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Trade Readjustment Act (TRA)

The Trade Readjustment Act provides full tuition and fees, books and supplies to eligible students. Students should check with their local Department of Employment and Training Office to determine eligibility.

Employer-Funded Education

Many employers pay for full or partial expenses related to courses taken at Ivy Tech when the training offered relates to the employee's job responsibilities. Interested students should contact their employers to determine if such arrangements can be made.

Union Training Funds

Many unions have training funds available for members. Interested students should contact their unions regarding availability of training funds for use at Ivy Tech.

Veterans' Benefits

Students who served in the armed forces may be eligible for veteran's benefits. The Veteran's Administration and, in many instances, the Department of Defense, determines eligibility. The amount of monthly educational allowance will depend on enrollment status and individual entitlement of each veteran.

Ivy Tech is obligated by law to evaluate past military and civilian training and education and award credit where appropriate. To accomplish this evaluation, veterans are obligated to provide the College with the necessary documentation of prior training and education. The evaluation must be completed within the time frame dictated by law and should be accomplished as soon as possible. Failure of the veteran to cooperate could result in VA benefits being terminated, retroactive to the first day benefits were received. The award of credit for previous training may allow the College to shorten the training program proportionately. The veteran should meet with the campus Veteran Affairs Coordinator at the earliest possible date. The veteran is responsible for attending classes and making reasonable progress toward an educational objective.

For more information, contact Leanna Angi-White at 1-800-659-4562 x 1221 or 765-966-2656 x 1221 (if outside of Indiana).